The funding round was led by American venture capital firm Lightspeed Venture Partners
Wiz takes its valuation to $10bn following a Series D funding round. (Credit: Darwin Laganzon from Pixabay)
Wiz, a US-based cloud security and software as a service (SaaS) firm has raised $300m in a Series D funding round at a valuation of $10bn.
The funding round was led by US-based venture capital firm Lightspeed Venture Partners.
It also saw the participation from the company’s existing investors, namely Greenoaks Capital Partners and Index Ventures.
The funding round also had participation from angel investors such as Starbucks’ owner Howard Schultz and French business tycoon Bernard Arnault.
Last year, Wiz expanded its cloud security platform by adding new capabilities for data security Posture management (DSPM), external attack surface management (EASM), Container and Kubernetes security, and cloud detection and response (CDR).
Founded in 2020, Wiz claims to be the world’s largest cyber unicorn and the fastest SaaS firm to reach a valuation of $10bn. In October 2021, the cloud security firm raised $250m in a Series C round at a valuation of $6bn.
The start-up offers an agentless, application programming interface (API)-centred approach that helps to easily scan workloads and give total visibility of cloud environments.
The firm serves companies such as BMW, Colgate-Palmolive, Chipotle, Fox, LVMH, Salesforce, Morgan Stanley, Mars, Slack, and Snowflake to quickly identify and eliminate critical cloud risks.
Wiz co-founder and CEO Assaf Rappaport said: “The rapid growth of Wiz is a measure of the value we deliver to our customers. By partnering closely with each one of our customers – we learned the complexity as well as the business and operational challenges they face.
“We’ve learned how important is the partnership between security and development teams to build cloud securely.
“Three years in, what makes me most proud of is how Wiz has helped these organisations reach a new maturity level in their cloud, building and innovating faster than ever before with increased visibility, security, and agility.”